Trading with point and figure

[Moneylender]

current situation, recoiled ready to go but is it up or down again?

 

[2be]

Long on round number on dax 900, SL 40 PT 60

 

[2be]

Long on round number on dax 900, SL 40 PT 60

sl triggered

 

[Moneylender]

Dont forget its a public holiday across the pond so MM's can and will take the michael

 

[2be]

yes, the public holiday indeed
how do you like the P&F indicator
I find it works, but it slows my computer quite a lot

 

[2be]

I think that Bullseye is far superior, but I am a bit confused regarding their price structure and data feed requirements
Big thank you to dentist for his work and postings!!!

 

[Dentalfloss]

 

[Moneylender]

I think that Bullseye is far superior, but I am a bit confused regarding their price structure and data feed requirements
Big thank you to dentist for his work and postings!!!

Agree about the slowing of pc, I have it on a stand alone one so I dont notice it too bad and i try to limit the number of charts open to two or three.
I did look at bullseye and as you say its far superior to the Cute system but
I was also confused by pricing so will get some experience of this type of trading before spending big bucks on it.

The more and more I use PnF the better I am getting with it. It pays to experiment with different settings and see what suits you best, and usually it keeps me on the right side of the trend!

 

[Moneylender]

change of settings and we see support hit on green trend. Pink res 50% of down move
With res at the top in red.

 

[Dentalfloss]

Am stuck now "master" where will it go from here?

really simple
if you get stuck on direction...market is probably stuck aswell....lol
go down to 1 min
dax...something like a 3 point box size and check it out
3 point by 1 reversal
if you are still stuck....prejudge those breakout points....try to get in on the other side...if you are wrong ..it dont cost you much...you cannot be trigger shy in p/f
if you think its a break upwards get in as low as possible
dont forget on 1 box reversal..there could be many filled boxes at the top or bottom of the pattern
if still in doubt...oco

 

[Dentalfloss]

this is a numbers game...nothing more...lol
if you think the world economy willl crash...it aint your problem...ha ha
just track the path of the price...neutral bias...just take the signals

 

[Dentalfloss]

spx...a real mess
over the last week

update on spx chart we posted this morning

 

[Dentalfloss]

price moved up to trend res pulled back to breakout point/aqua and then rallied
chart posted at 9.26 Am this morning

 

[Moneylender]

Personally I would stay away from US markets when they are closed.

Love the DAX man.:clap:

 

[Dentalfloss]

here is the difference
we did not call out any levels
we just had in the back of our minds that resistance was in the area of the red trendline
there were no guarantees
we looked for signals to confirm
if it overshot..then we would have increased the box size...it only gives you a rough estimate of where res/supp is
it turned out that the box size and reversal was right for this amount of volatility....nothing more

 

[Dentalfloss]

Personally I would stay away from US markets when they are closed.

Love the DAX man.:clap:

dont get lazy...trade both
they do react differently...imho

 

[Dentalfloss]

a decent move off trend res on spx..from chart posted
took the dax with it

 

[Dentalfloss]

oil/wti over the last week
still breaking down
no sign of support as yet

 

[Dentalfloss]

a decent move off trend res on spx..from chart posted
took the dax with it

stopped out for a decent run

 

[Dentalfloss]

42.75 a horizontal supp area for wti/oil
from 28 october
lets see if that holds
index could rise with it
43.50 area prev breakdown /could be res
llets see how it handles it